OK. So I'm Starting where you Guys Did. Newb Status... AND I'm a little confused.
Q: I want to make some money; Where do I start?
A: Trade in Dailies Minimum. This is not news but seems to be hard to convey.
Q: I've been able to grow my funds through Trading Dailies; Now What?
A: Split your reserve and move toward catching some "Scalped Dailies." In other words; Improve your Entries & Exits.
Q: How would I do that?
A: Study the PA (Price Action aka movement in recent quotes) {yep, I agree that there is Nothing more current than what is happening right @ this moment in Time BUT} recent PA should show non calculated {ie. visual} S&R.AND, SUSEQUENTLY, you should be able to discerne, at what price YOU are willing to Sell/Buy.
Place your Limit Orders Including Stops & TP & head for the Beach.
Your Trade is In. Right or Wrong.
The ONLY thing left to do is ensure that, IF You Are Wrong, It will Cost You Less than how much you will Earn If You Are Right.
MY 30:8 Rule:
Never Expose More than 30% of the account to Margin.
Never Expose More than 8% OF the 30% to ANY particular vehicle (Or Correlation thereof) {that's 2.4% of account for those that were thinking of doing the Math & I've used it for > 10 Years.}
All Comments pertaining to Blanket Style Trading Rules would be More than Welcome.
as opposed to gbpusd@ 3.0000
Just kiddin'
Open for Comments From ALL @
http://www.forexfactory.com/showthread.php?t=58041
Q: I want to make some money; Where do I start?
A: Trade in Dailies Minimum. This is not news but seems to be hard to convey.
Q: I've been able to grow my funds through Trading Dailies; Now What?
A: Split your reserve and move toward catching some "Scalped Dailies." In other words; Improve your Entries & Exits.
Q: How would I do that?
A: Study the PA (Price Action aka movement in recent quotes) {yep, I agree that there is Nothing more current than what is happening right @ this moment in Time BUT} recent PA should show non calculated {ie. visual} S&R.AND, SUSEQUENTLY, you should be able to discerne, at what price YOU are willing to Sell/Buy.
Place your Limit Orders Including Stops & TP & head for the Beach.
Your Trade is In. Right or Wrong.
The ONLY thing left to do is ensure that, IF You Are Wrong, It will Cost You Less than how much you will Earn If You Are Right.
MY 30:8 Rule:
Never Expose More than 30% of the account to Margin.
Never Expose More than 8% OF the 30% to ANY particular vehicle (Or Correlation thereof) {that's 2.4% of account for those that were thinking of doing the Math & I've used it for > 10 Years.}
All Comments pertaining to Blanket Style Trading Rules would be More than Welcome.
as opposed to gbpusd@ 3.0000
Just kiddin'Open for Comments From ALL @
http://www.forexfactory.com/showthread.php?t=58041